4 ms·
QE creates inequality via asset bubble inflation (those without assets are on the losing end), there's a housing crisis because housing (and now commodities) is
by newacc9 5y ago
QE creates inequality via asset bubble inflation (those without assets are on the losing end), there's a housing crisis because housing (and now commodities) is used as a store-of-value. The Petro-dollar system is not ESG friendly and it is coming to and end: China is no longer buying treasuries, Saudi is willing to price oil in Yuan, and the West is seizing Russian reserves. Your faith in the dollar system seems unphased by macro events.
When the price of coins skyrockets, its better to hold, but people still need to live, so they still spend money.
- tootie 5y agoQE prevents deflation. Asset bubbles, college costs, housing supply are all well outside the ability of any central bank to affect. And 2007 gold bugs want their talking points back. We very obviously don't need any other country to buy our treasuries and yet they trip over themselves to do so. Nor do we care how oil is priced. Those are barely valid criticisms of USD but USD isn't the only fiat that's been extremely resilient to disruption. EUR, GBP, CHF are all stable through a series of disasters. What do honestly think would have happened if BTC was the standard currency for the last 15 years? We'd be on the barter system by now.